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Author Topic: Pension Changes  (Read 92334 times)

Siwel123

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Re: Pension Changes
« Reply #275 on: 20-10-19, 07:50AM »
Just want to aplogise and say the figure i qouted is for when you started the pension, which sounds a lot better.

I definitely think putting in 7.5% would be the wiset choice, simply because if tesco is going to double it for free.

sunshineman

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Re: Pension Changes
« Reply #276 on: 15-03-20, 07:21PM »
the new pension can we not just get our money back. my wife took a payout from the first pension, but the second pension is a waste of time. we read about it and she and don't quote me on this as these are not the exact figures but she will get £1,000 when she retires in three years time and then a year she will receive about £30 a month. can we not just take all the money out of the pot and either put it in the bank or invest it. she now is on 20 hours a week due to cut backs. we worked it out and for her to get what she has paid in, she would have to live until she was 102. her old pension because she took out 7,000 she only get £90 a month from that

lucgeo

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Re: Pension Changes
« Reply #277 on: 15-03-20, 07:36PM »
I have recently received a letter to state that the pension is moving...and do I want the total in cash?...bearing in mind I took my entire old frozen pension out early 2018, and made redundant may 2019...I have approx 1 grand in the new pension pot even though I was doing the max 7.5 contribution on a 22.5 contract since 2015. I've asked for the whole sum in cash, but hoping it hasn't now considerably dropped due to latest pandemic and trading market  ???
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NightAndDay

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Re: Pension Changes
« Reply #278 on: 15-03-20, 07:52PM »
About  payslips, under SMART pension contributions, I was looking at my old payslips,  I chose to contribute 5% under the understanding that Tesco matches the contributuon, doing the calculation of 5% of my total base pay, sunday premium and holiday pay, the SMART pay element credited 5% exactly, why is Tescos contribution not itemised on the payslip, in my current job they're a lot more transparant about how they process pension payments.
« Last Edit: 15-03-20, 07:53PM by NightAndDay »

Welshie

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Re: Pension Changes
« Reply #279 on: 15-03-20, 09:04PM »
@lucego , my husband took his whole pension pot from an old pension (not tesco) , it was done very speedily as hes classed as terminally ill , in 10 days it lost £5000 , so you'll be lucky to get anything.

lucgeo

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Re: Pension Changes
« Reply #280 on: 15-03-20, 10:17PM »
That's a real low blow for your hubby, you've got enough on your plate without losing that much... :-X

With regard mine, as they sent the letter offering the option during the outbreak, I will suggest they should have frozen the letters, rather than lose me money...something everyone should consider!
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NightAndDay

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Re: Pension Changes
« Reply #281 on: 16-03-20, 12:14AM »
Does anyone know where or how you can get a log of all pension deposits made by you and Tescos matching contributions?

NightAndDay

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Re: Pension Changes
« Reply #282 on: 18-03-20, 01:53PM »
On the plus side to the recent hammering to pension growth fund values, while the price per unit is lower than it was, our pension contributions should buy more units due to the lower value, this should equate to greater returns when the stock market inevitably bounces back.

Thevamps

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Re: Pension Changes
« Reply #283 on: 18-03-20, 03:12PM »
After almost 29 years working for Tesco's I got a letter from legal and general today saying my pension is worth £5768 I know it changed a few years ago so  does anyone know where all my other contributions have gone, because that's disgusting if that's my pension that I'm allowed to live on !
« Last Edit: 18-03-20, 03:42PM by Nomad »

Pathfinder

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Re: Pension Changes
« Reply #284 on: 18-03-20, 03:17PM »
Legal and general is tesco savings plan , you will have a frozen pension also which you can access via my pension tesco ...choosing the closed pension.

Nomad

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Re: Pension Changes
« Reply #285 on: 10-04-20, 11:57AM »
https://www.pionline.com/pension-funds/tesco-plans-one-time-payment-plug-uk-pension-deficit

Quote
Tesco PLC, Cheshunt, England, recorded a 10% increase in its group pension deficit to £3.1 billion ($3.8 billion) but plans to eliminate most of the shortfall with a one-time contribution.
Nomad ( Forum Admin )
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Redshoes

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Re: Pension Changes
« Reply #286 on: 10-04-20, 08:55PM »
Ring the pension line. Not sure how well manned this during the crisis however.

 

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